1% Cashback card with £10 reward every year

thegoodman

The Capital One is offering 1% cashback card with £10.00 reward once a year.

It seems the card do not have upper limit on how much cash back you can earn.

This card seems one of the best non-Amex for cashback.

http://www.capitalone.co.uk/creditcards/world-mastercard.jsf

TheGoodMan

JohalaReewi

Flagged up by MSE in this thread...
http://forums.moneysavingexpert.com/showthread.html?t=2239261

izools

Keep in mind of course, that less the £10 annual bonus the fee still equates to £8 PA.

Still notably cheaper than the likes of Egg Money

thegoodman

For high spending this is very good card without upper limit

basiaking

Hi. I wonder if anyone can help. I recently applied for a Capital One cashback card but had not heard anything from them. I rang them today to ask if they had received my application and they said they had but I had been rejected for the card. I was a bit shocked as I easily meet the minimum £20,000 salary requirement and have never had any trouble applying for credit cards in the past. I am one of those people that always pays off their full balance each month and have never had outstanding loans or debts. I have never even been overdrawn in the bank in my whole life. Just to be sure I got a credit report in case an error had been made and found that this was fine. I actually scored 999 which is the most you can score and puts my credit rating in the "excellent" bracket.

I rang Capital One to ask why I had been rejected and they said it was company policy to keep this information confidential and they cannot tell me! I thought it might be the fact that, as I always pay off my balance in full, they did not want me as a customer as they would not make any money from me but this is not the case as there is an £18 fee (£8 after the annual rebate) plus they make money from every transaction you do using the card. Has anyone any ideas?

td_007

basiaking wrote: »

I actually scored 999 which is the most you can score and puts my credit rating in the "excellent" bracket.

For starters, this number is meaningless in real terms - so simply ignore it.

basiaking wrote: »

I rang Capital One to ask why I had been rejected and they said it was company policy to keep this information confidential and they cannot tell me! I thought it might be the fact that, as I always pay off my balance in full, they did not want me as a customer as they would not make any money from me but this is not the case as there is an £18 fee (£8 after the annual rebate) plus they make money from every transaction you do using the card. Has anyone any ideas?

If you are desperate to have the card you can appeal and send in your credit reports. But at the end of the day it is for Cap1 to decide if they want to give you credit or not. Generally, their credit limits are very low - for eg. I got a limit of 2K, when I have got cards before and after CAp1 with min 6K plus.

On the other hand Cap1 and Vanquis target those with low credit rating or those who would potentially pay interest/fees....so no surprises there.

thegoodman

The cash back card have min credit of £4000 which is not bad. however it is up to the card company to gvie the card to you or not.

basiaking

Have found out why Capital One rejected me. I spoke with Credit Expert who went through my credit report with me and said it is all good. The only thing they could find to go against me is that I had recently applied for an Amex cashback card (to take advantage of the 5% cashback offer during the first three months) which I got no problem and that I had recently taken out a new mobile phone contract. The only reason I applied for the Capital One card is that it has no maximum limit that cashback is earned on. At the moment I am using the Amex platinum cashback card and Egg moneyback when retailers don't accept Amex. I applied for the Capital One card as I thought it would be easier just using the one card. I was going to cancel the Amex and Egg and use the Capital One card only. Maybe they did me a bit of a favour by rejecting me as, although Capital One costs £8 a year and the Egg £12 a year, the Egg offers many insurances that, although you probably won't use, its nice to know they are there!